March 22, 1994
Care Enterprises Inc., a health care provider, reported a profit of $5 million, or 38 cents a share, for 1993, compared to $5.7 million, or 49 cents a share, for 1992. Revenue increased 4%, to $200.4 million from $192 million in 1992. For the fourth quarter, profit totaled $1.1 million, or 8 cents a share, which included a charge of $1.1 million related to its share appreciation rights plan. That compares to profit of $3.2 million, or 27 cents a share, for the like 1992 period.
January 1, 1991 |
After operating nearly three years under the protection of the U.S. Bankruptcy Court, Care Enterprises Inc. will emerge today as a much smaller but more financially sound nursing home operator, company officials said Monday. "What emerges tomorrow is a new Care Enterprises. Its assets have been restructured, its capital structure overhauled. It is issuing new stock and has a new board of directors," said Douglas Drumwright, Care's chief executive.
January 11, 1991 |
Care Enterprises Inc.'s largest shareholder has agreed to provide $4 million in working capital to the nursing home chain to ease its cash crunch as it emerges from bankruptcy. A group of New York investors that holds a 13.7% stake in Tustin-based Care Enterprises will provide the money to let Care management "breathe a little easier," said Doug Drumwright, Care's chief executive. The investment was disclosed Thursday in a filing with the Securities and Exchange Commission.
November 15, 1991 |
Care Enterprises Inc. reported third-quarter earnings of $479,000, an improvement over a year-earlier loss of $254,000 when the company was in Chapter 11 bankruptcy proceedings. For the first nine months, the Tustin nursing-home operator earned $805,000, or 9 cents a share, contrasted with a loss of $962,000, or 8 cents a share, last year. Care Enterprises cautioned that year-to-year per-share figures aren't directly comparable because the company had 11.
April 15, 1992 |
Care Enterprises Inc., showing signs of recovering from a bankruptcy reorganization a year ago, reported a profit of $2.2 million in 1991. The Tustin-based nursing home operator has pared down its size, installed new management and sold much of its stock to creditors. Gary Massimino, executive vice president and chief financial officer, said the company was very pleased with the 1991 profits.